Commercial Property in Turkey for Foreign Investors: Buy or Rent

Yes, foreigners can buy and rent commercial property in Turkey. A foreign individual can buy in their own name under Title Deed Law No. 2644, Art. 35, and a company established in Turkey with foreign capital can buy the property its activities need under Art. 36. Renting is open to both, under the same workplace-lease rules that apply to Turkish tenants.

Bosphorus Brokers is a licensed real-estate brokerage in Şişli, Istanbul. We help foreign investors and companies buy commercial property in Istanbul and elsewhere in Turkey, or find commercial property for rent in Istanbul, and we coordinate each transaction with your own lawyer and accountant.

Can foreigners buy commercial property in Turkey?

Yes, through one of two routes, and it pays to choose before you make an offer.

In your own name (Law No. 2644, Art. 35)

Foreign individuals buy commercial property much as they buy homes. The limits: military and security zones are off-limits, foreign ownership is capped at 10% of a district's private land area, and each person can own up to 30 hectares nationwide. Nationals of a few countries face restrictions.

Through a Turkish company (Law No. 2644, Art. 36)

A company established in Turkey with foreign capital, under Foreign Direct Investment Law No. 4875, can acquire property needed for its activities. The governorship gives permission after a military and security assessment, so allow for that step.

Which route makes sense for you?

• Personal ownership usually suits an investor buying a shop, office or hotel to let out, or buying with Turkish citizenship in mind.
• Company ownership usually suits a business that will operate from the property: a factory you will run, a warehouse for your own distribution or offices for your staff.

Take advice from an independent lawyer or accountant on company set-up, structure and tax before you choose. Rules change, so confirm them for each property before you sign.

Which commercial properties can we help you buy or rent?

Commercial real estate in Istanbul for foreigners covers very different buildings, each with its own checks and its own page.

Factories

Industrial buildings and plots in Istanbul's Organised Industrial Zones (OSBs), including İkitelli, Dudullu, Tuzla and Beylikdüzü. See factories for sale and rent in Turkey.

Warehouses

Logistics and storage buildings from Hadımköy and Arnavutköy on the European side to Tuzla, Pendik and Gebze on the Asian side. See warehouses for sale and rent in Istanbul.

Shops

Retail units on İstiklal Caddesi, Bağdat Caddesi, in Nişantaşı and on neighbourhood high streets. Shopping-centre units are usually leased, not sold. See shops for sale and rent in Istanbul.

Restaurants and cafés

Premises to buy or lease, and businesses offered "devren kiralık": transferred with their lease against a key-money payment to the outgoing tenant. See restaurants and cafés for sale and rent.

Hotels

Boutique hotels in Sultanahmet, Galata, Karaköy and Kadıköy, and resort hotels in Antalya, Bodrum and Fethiye. You may be buying the building, the operating business or both. See hotels for sale in Turkey.

Offices

Units and whole floors in Levent, Maslak, Mecidiyeköy, Ataşehir and Kozyatağı, for your own team or as a rental investment. See offices for sale and rent in Istanbul.

Should you buy or rent commercial property in Turkey?

It depends on your time horizon, the capital you want to commit and how specific your building needs are.

Factor	Buying	Renting
Upfront cost	Price, 4% title-deed fee, valuation report, VAT on many new units	Deposit (capped at three months' rent), first rent, fit-out
Ongoing cost	Property tax at commercial rates, maintenance, service charges	Rent, with renewal increases capped at the 12-month CPI average
Exit	Sell when the market allows	Leave at the end of the term; assigning the lease needs the landlord's written consent
Tax points	VAT position and the possible Art. 13(i) exemption	Business tenants renting from an individual withhold 20% stopaj
Citizenship	Can qualify at USD 400,000 or more by official valuation	Does not qualify
Best suited to	Long-term users, specialised buildings, income investors	New market entry, short horizons, standard space

A common path is to rent first and buy once the operation has settled. If you are weighing both, we set purchase costs against rent on the same basis.

What are the costs and taxes of buying commercial property in Turkey?

• Title-deed transfer fee: 4% of the declared value, legally split 2% buyer and 2% seller but often agreed otherwise, so put the split in writing, plus a small revolving-fund fee.
• Valuation report: foreign buyers need an official report from an SPK (Capital Markets Board) licensed appraiser before the transfer.
• VAT: new commercial units sold by VAT-registered sellers generally carry 20% VAT; second-hand sales between private individuals generally do not. Non-resident foreign buyers paying with foreign currency brought into Turkey can qualify for an exemption on a first sale of a workplace (VAT Law No. 3065, Art. 13(i)), subject to conditions such as not selling within a set period.
• Annual property tax: set by the municipality under Law No. 1319, at higher rates for commercial buildings and land than for homes.
• Stopaj on workplace rent: when a company or business tenant rents a workplace from an individual, it withholds 20% income tax from the rent and pays it to the tax office (Income Tax Law No. 193, Art. 94).
• Our fee: 2% of the agreed price plus 20% VAT, the same for Turkish and foreign buyers, paid only on completion at the title-deed transfer. Lease fees are agreed in writing before we start; see our fees.

Confirm your VAT and tax position with an independent tax adviser before you agree a price, as rules and rates change.

Which permits does a commercial property need in Turkey?

A business can only open in a building with the right zoning and an occupancy permit (iskan, formally yapı kullanma izin belgesi). The operator then needs a workplace opening and operating licence (işyeri açma ve çalışma ruhsatı) from the municipality. Depending on the use:

• selling alcohol needs an additional permit;
• hotels operate with a tourism operation certificate (Turizm İşletme Belgesi) from the Ministry of Culture and Tourism or with a municipal licence;
• manufacturers usually need an industrial registry certificate (Sanayi Sicil Belgesi) and, depending on the activity, environmental permits such as an EIA (ÇED).

A costly mistake is committing on the seller's word that the licence "will not be a problem". We check first that the zoning and iskan match your planned use and that existing licences are in place.

How does Bosphorus Brokers work on a commercial property search?

1. Requirements brief: use, size, location, budget, technical needs, buy or lease, and in whose name.
2. On- and off-market search: listed properties plus owners and contacts with unadvertised properties, then online or in-person viewings.
3. Checks: title-deed (tapu) records, mortgages and annotations, iskan, zoning and existing licences, and the asking price or rent against recent transactions.
4. Negotiation: price or rent, deposit, fee split, fit-out time and what stays with the property.
5. Coordination: with your lawyer, who reviews the contract, your accountant, the valuer, the notary and the authorities.
6. Transfer or lease signing: we arrange the tax number, bank account, valuation report, translator and land-registry appointment and accompany you, or you sign by power of attorney without travelling.

Can commercial property get you Turkish citizenship?

Yes. Turkish citizenship by investment needs property worth at least USD 400,000 by official valuation, kept for at least three years, with a no-sale annotation on the title deed. Offices and commercial units qualify as well as homes, so a shop or office let to a tenant can count instead of an apartment.

The figure that counts is the official valuation, not the contract price, so we compare the two before you commit. We can assist you with the Turkish citizenship by investment application procedures.

Why do foreign investors work with Bosphorus Brokers?

• Licensed: authorised by the Republic of Türkiye Ministry of Trade, license no. 3408704, founded in 2022, with "bosphorus brokers" a registered trademark.
• Founder-led: Burak Ünal, founder and principal broker, holds an MSc in Finance from the London School of Economics and a BSc from Bogazici University, is a Chevening scholar and passed the official broker licensing exam in 2021. Real-estate appraising and retail leasing are among his listed specialties, so prices, rents and lease terms get a numbers-first review.
• Independent: we act for you, compare across sellers and areas, and disclose any developer commission.
• Same fee as locals: no foreigner pricing, no marked-up prices and no brokerage fee if a purchase does not complete.
• Your language, remotely: we work in English, Turkish, French, Russian, Chinese and Arabic, with online viewings and digital documents. We are rated 5.0 on Google.

Searches, viewings and consultations cost nothing; the first step is to tell us what you need.